Calpine Co. (NYSE:CPN) shares saw an uptick in trading volume on Thursday . 18,552,811 shares traded hands during trading, an increase of 225% from the previous session’s volume of 5,708,106 shares.The stock last traded at $15.22 and had previously closed at $15.15.
A number of research firms recently issued reports on CPN. Zacks Investment Research downgraded shares of Calpine from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. SunTrust Banks reiterated a “hold” rating and set a $15.00 target price on shares of Calpine in a research report on Friday, November 17th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $15.25 target price on shares of Calpine in a research report on Monday, October 30th. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Calpine currently has an average rating of “Hold” and an average target price of $14.75.
The company has a debt-to-equity ratio of 3.65, a current ratio of 1.23 and a quick ratio of 1.10. The firm has a market cap of $5,487.47, a price-to-earnings ratio of -217.54, a price-to-earnings-growth ratio of 2.70 and a beta of 0.96.
In other news, CEO Thad Hill sold 38,304 shares of the company’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $15.08, for a total value of $577,624.32. Following the completion of the sale, the chief executive officer now owns 559,237 shares in the company, valued at approximately $8,433,293.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP W. Thaddeus Miller sold 177,627 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $15.12, for a total transaction of $2,685,720.24. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of CPN. PNC Financial Services Group Inc. grew its stake in shares of Calpine by 47.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 7,618 shares of the utilities provider’s stock worth $102,000 after acquiring an additional 2,443 shares in the last quarter. Virtu KCG Holdings LLC grew its stake in shares of Calpine by 1.6% in the 2nd quarter. Virtu KCG Holdings LLC now owns 10,636 shares of the utilities provider’s stock worth $144,000 after acquiring an additional 167 shares in the last quarter. Stifel Financial Corp grew its stake in shares of Calpine by 56.1% in the 2nd quarter. Stifel Financial Corp now owns 43,200 shares of the utilities provider’s stock worth $589,000 after acquiring an additional 15,525 shares in the last quarter. Shell Asset Management Co. bought a new stake in shares of Calpine in the 3rd quarter worth $1,312,000. Finally, Athos Capital Ltd bought a new stake in shares of Calpine in the 3rd quarter worth $1,612,000. Hedge funds and other institutional investors own 78.27% of the company’s stock.
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Calpine Company Profile
Calpine Corporation is a power generation company. The Company is engaged in the ownership and operation of primarily natural gas-fired and geothermal power plants in North America. The Company’s segments include West (including geothermal), Texas and East (including Canada). In the Northeast and Mid-Atlantic regions, the Company has generating units capable of burning either natural gas or fuel oil.
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